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All Forum Posts by: Rodney Sums

Rodney Sums has started 25 posts and replied 557 times.

Quote from @Anup Jung Karki:

@Bruce Lynn thank you for the input. We got one under contract i am going to make calls tomorrow to hospital and see what they say.


 Registered Nurse here:

It may be more efficient if you reached out to staffing agencies rather than hospitals. Or, ask the hospital if they'll tell you what agencies they contract with so you can call them. Hospitals typically take travel nurses from travel nurse agencies.  They have contracts with many agencies and don't get involved with assisting nurses with their lodging.  Additionally, you're selling yourself short by focusing only on nurses.  We aren't the only ones that travel.  Physicians, pharmacists, nurse practitioners, respiratory therapists, and other medical professionals travel.  

This isn't to say the hospital does not get involved with accommodations for nurses or do any direct hiring.  They do.  Agencies specialize in this.  Medical professionals don't only travel for hospitals.

If you're going to cater to this demographic, get familiar with how travel contracts work.  For example, some contracts allow a facility to cancel a traveler's contract, they don't stay the typical 13 or more weeks you were hoping for, and may avoid your property depending what terms you offer because of that risk.

Post: Landlord insurance with rent protection

Rodney SumsPosted
  • Laveen, AZ
  • Posts 582
  • Votes 525
Quote from @Mike Parker:

Good morning, 

Bill, John and Bo. Thank you all so much for the knowledge and advice. It is much appreciated. 

co-sign what  @Joseph Coleman and

@Bo Bond

If you finance a property as an investment, the lender will insist on that type of coverage to close.  If you convert a primary to a rental, then make sure you have that coverage.  In my experience, it's always been a coverage that came standard with the landlord policy.

Post: Is this a new trend?

Rodney SumsPosted
  • Laveen, AZ
  • Posts 582
  • Votes 525
Quote from @Jon Martin:

I noticed this with VRBO about a month back. Actually took 2-3 clicks to get to the final out the door price, and it was well over double the nightly rate all in. 

On a related note, Hotels dot com also gutted their "stay 10 nights, 1 night free" program, which was basically a 10% rebate/dividend. It was incredible if you traveled for work and had control over how you booked. Hot a few dozen free hotel nights for personal use over the years. Now you only get 2%. They spun is a win for the consumer, but when I tried to cash in the points it didn't even work on at least half of the places I tried to book . . . WTF?

Dumbest part is that I was looking forward to cancelling my hotels account, but not I can't because I have a VRBO owner account tied to the same email, so I would basically be deleting my VRBO listing in the process. Absurd. 


 It was cool racking up those coupons when someone else was paying for it (like work travel).  I think they realized people were booking less with them because, to offset the cost of paying for a free night their rates were usually higher than competitors

Post: A fight against investing in Ohio

Rodney SumsPosted
  • Laveen, AZ
  • Posts 582
  • Votes 525
Quote from @Robert Ellis:

The act will never pass. "The Stop Predatory Investing Act would prohibit an investor who acquires 50 or more single-family rental homes from deducting interest or depreciation on those properties. Right now, two big investors own more than 12,000 homes in just three Ohio markets, and other large investors don't report how many homes they own." 

There are already 3 of these proposed in Columbus. The way they do the entitlements are separate homes but they could also build all of them on the same development without parceling them out and it wouldn't be 50 single family homes at that point just a master planned commented. There was already a lawsuit that was won from an out of state investment company. 1000 homeowners signing a petition won't stop the billions of dollars being invested into this. This article shows 3 recent ones. As a builder I support this as an agent I support it. The investment in the area brings substantial new housing that we already have a shortage of and is actually an affordable solution compared to those who can't afford mortgages. 

https://abc6onyourside.com/on-your-side/four-build-to-rent-s...


 I hear you.  The part I struggles with is the chants for rent control. It's unfortunate when residents don't look at the bigger picture and believe the solution is to target the landlord.  Nobody says, "contractor  pricing control, building material price control,  insurance price control, property tax control" and everything else that costs money to maintain a property.  The same person that wants a cap on rent is the same person that will want the AC fixed, even if it means installing a new 5 thousand dollar unit, and won't care you didn't or couldn't raise their rent.  I understand there are vulnerable populations that have limited abilities to increase their income. I don't agree targeting home owners isn't he most efficient answer.

id certainly like for citizens to have opportunities to buy homes and it can be very frustrating when they have to compete with corporations that can outbid them.

Post: Tenant damage and ordinary wear and tear

Rodney SumsPosted
  • Laveen, AZ
  • Posts 582
  • Votes 525
Quote from @Kar Sun:

All

Thanks for chiming in.

I had a walkthrough today. 
tenant fixed everything and the place looked spotless except for the washer that should be easy to clean. 
he will get all his deposit back. 


 Dang all that stress and he fixed it 😀

I agreed with your points actually. 

It was disappointing to read other landlords think we should spot paint a wall when the tenant wasnt given a spot painted wall.  Especially if your lease specified they could not put holes in the drywall and did anyway. Mines do, and this is why.  

If you didn't already, add an addendum that outlines the expexted operation of the stove and what shouldnt be used on it.  Even if you wouldnt win that argument in court, at least the tenant knows and you wont have a fight over it.

Please share more about the temperature setting rules, what temperatures you specified, and why? On the surface it sounds extreme to tell a tenant what can be comfortable for the.. The only things that come to mind are settings that are too low and may damage the HVAC or too high and damage the floor. I'd like to learn. 

Quote from @Adam Martin:

Easy solution for this one. It seems like they want the mural to stay and the landlord wants to get paid for advertising.  If the current owner wants to pay the advertising rate to keep it there then there is no reason to remove it but if not they may be out of luck.  I'm not sure how many companies in LA though are going to be paying a premium to hang their advertising in a place that had Kobe covered over so publicly though.  


 Exactly. And if I understood your last point, that's what concerns me. It has an extortion feel to it.  Especially when you throw in the petition. What the tenant overlooks is she essentially trying to tell the building owner, and indirectly all landlords, is that you shouldn't have a right to control your own property and that tenants can pressure you to do with it as they see fit even if unrelated to the law or making it fit for occupancy.

imagine how many tenants would like to paint their late Grandmother, late pet, or someone else of significance.  Why doesn't the tenant petition everyone to donate to her ability to buy the building? Nope, let's pick on the owner.

And I say all this as a Lakers fan.

https://people.com/los-angeles-gym-owner-fights-to-keep-kobe...

The tenant painted a mural of Kobe and his daughter, then years later the owner wants it removed. The tenant is fighting.

I'm certain most everyone here has the same stance on this issue.

I can't help but wonder if there's a publicity stunt tied to it. Hopefully they were genuinely memorializing the two while forgetting the lease terms.

The "sign the petition" part is really interesting, and disturbing at the same time.

Quote from @C Michael Sundius:

as frustrating as this is. it really brings up an interesting question when the owner doesn't get a share of the late fee.

say the rent is $100 and the late fee is $10. in january the tenant is late but pays $100 rent. who gets how much?

 does the owner get the whole $100? or does the owner get $90 and the pm get $10?

if the owner gets the whole amount.. then what happens in february when the tenant again pays $100 and ignores the late fee?


can the property manager evict for unpaid fees? I don't think so. what is there to keep the tenant from just ignoring the late fee?

Finally. say the tenant ignores the late fee and only ever pays the rent but not the late fee.. (say he's regularly late). then can the owner demand that he is paid his full rent?

mike


 PMs I work with don't take partial payments. So they can't just pay the rent and ignore the late fee.  It's along the lines of what another poster said, if they take some of the money, a judge may not evict because partial payments were taken.  

Most PMs I've dealt with keep all the late fees, arguing they're doing the extra work to collect the rent.  I can appreciate that because as the owner youre not the one drafting letters, sending certified mail, burning gas driving to the property to put notices on the door, making calls etc. You just wait and that does suck. I do have one that gives me some of it.  

They have to make their money somewhere so even if they gave you some or all of the fees, they'd have to offset it by charging higher rates to the owner.

Post: Smoker on first/new 4-plex

Rodney SumsPosted
  • Laveen, AZ
  • Posts 582
  • Votes 525
Quote from @Bruce Woodruff:
Quote from @Account Closed:

 I am sure scrubbing off walls/ceilings,replacing carpets are trivial things.

Don't get so confident until you actually do it. Depending on how long they have been smoking in the unit, it can be much harder than you're thinking...
You are for sure looking at Ozone filters, a good primer and new paint....maybe worse. Let us know how it goes so other newbies can learn...

 Co sign this. You're definitely going to have to Ozone that unit, minimum.  That smoke gets in to EVERYTHING.  If you have any carpet, that's gotta go.  If they've been there a long time, scrubbing the walls and painting may not even be enough.  Then there's your HVAC ductwork that's been contaminated, circulating that crap.  Even the fixtures can absorb the residue.  Hope you don't have that popcorn ceiling. Just like Bruce said, how long and how much will be a factor.  Did you check the lease they are currently on to see if smoking indoors was prohibited? If so, then you don't need cash for keys, they're already in violation.

Post: Stop Inspecting Occupied Rentals

Rodney SumsPosted
  • Laveen, AZ
  • Posts 582
  • Votes 525
Quote from @James Hamling:
Quote from @Todd Jones:

 For the record,

1) An ejector seat in a helicopter does work if it goes sideways or straight down. You’ll “Wile E. Coyote” splat but no blade-choppy-woppy.

2) What’s bad about Solar powered flashlights? They’ve been around since the 80s. Charge in day and use at night. Amazon got several even thought the company names are in all caps with random consonants. I get you were implying a solar powered flashlight with no batteries but….

Guys, regardless if this was intentional or unintentional click-bait, this has gotten weird, unproductive, and unnecessarily aggressive.

Thread lock?


Lol. 

Interestingly, the military choppers, several, do have ejection seats, and yes they go up. Rotor blades have charges that blow-em off, or at least supposed to. 

Regardless, it was just making a point, not to get lost in weeds of technicals. 

Annual inspections are very important. It lends pro-active measures for various items that wear out, to effect maintenance early vs late. It lends insight into tenant habits, so one can make an informed decision on renewal or termination. And tenant mindset, knowing someone is checking changes habits. 

The only tenants I have ever had who took issue with such inspections, were those with something to hide, not in theory, real world experience. Pet's had damaged something, kids had damaged something, there was reasons, reasons we only found about because of that annual inspection. 

PM, in simplest form is: screening, monitoring, responding and accountability. Remove any 1 leg of the table, it get's real hard to keep things level and smooth. 


 Your comments are always the kind that I like, and get on my nerves at the same time. 😂😂😂 Regarding this subject, I agree with you though. 

I also doubt the sincerity of the post...whether it was intended to advertise something, get attention, start an argument, or something else.  

It is definitely is an inspection and I want it to feel like one.  This is not a "kumbaya" momment. It's also not intended to make tenants uncomfortable.  For me its:

-My way of letting you know not to mess around with my property or violate lease terms, because I'm watching 

-An opportunity to catch what tenants fail to report and gets worse over time

-An opportunity to share their concerns so I can be of better service 

-An opportunity to gauge if I want to renew their lease

It's not a preventative maintenance visit. Someone is coming to look thoroughly at the property. I won't disguise it as something else to be warm and fuzzy. If anything that could look like a lie. "If it's preventative maintenance, why are you looking in the closets?"